PEER COMPANIES

NEW DELHI: While most listed companies on Dalal Street faced trouble following demonetisation of high-value currency notes, around 20 stocks were on buyers’ radar for having doubled investor wealth from the lowest levels hit on November 21 when the stock market crashed following the cash ban.

The list includes Bharatiya Global Infomedia, which has soared 211 per cent till date. Shares of the company jumped from Rs 5.06 on November 21 to Rs 15.76 on January 17.

Shares of Palred Technologies, Ruby Traders, Indian Metals, Sankhya Infotech, Sinner Energy, Datamatics Global and Manaksia Industries climbed 116 per cent, 111 per cent, 110 per cent, 109 per cent, 108 per cent, 106 per cent and 105 per cent, respectively, between November 21 and January 17.

Prime Minister Narendra Modi on November 8 banned currency notes of Rs 500 and Rs 1,000 denomination as part of a crackdown on black money. Following this cash ban, the 30-share Sensex plunged nearly 7 per cent and hit a low of 25,765 on November 21 against 27,591 on the day of announcement of demonetisation.

The impact of the cash ban is still visible on the market as the benchmark indices, BSE Sensex and NSE Nifty, are still trading one percentage point lower than the level hit on November 21.

WEP Solutions, Niraj Cement and Shiva Global advanced between 100 per cent and 103 per cent between November 21 and January 17. Atlas Cycles, Kilpest India and Saksoft gained 99 per cent, 96 per cent and 96 per cent, respectively.